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Optimism, one of the most popular Ethereum layer-2 platforms, willreleasethe Bedrock upgrade on June 6, 2023.

The layer-2 provider on Ethereum says the release is highly anticipated by the community and will introduce some changes that make the protocol even more scalable, reducing transaction fees.

As it is, Optimism offers an off-chain, general-purpose platform where users can deploy smart contracts and launch decentralized applications (DApps) in a low-cost, highly scalable, and secure environment.

Optimism uses roll-ups and bundles transactions before confirming them on the Ethereum mainnet. This move relieves the mainnet, helping reduce fees by re-routing demand to an off-chain solution.

According to Optimism, Bedrock will be a hard fork. It means validators will have to update to the latest version. Optimisms documentation reads that the network will retain the same chain ID, transaction history, and state. The first block of the new network will be the last block of the old network +1.

These changes that come with the Bedrock hard fork will improve scalability, usability, and security.

For instance, the developer of the layer-2 protocol says there will be better Ethereum Virtual Machine (EVM) equivalence since, even after the upgrade, Optimism will remain compatible with the base layer, that is, Ethereum. Accordingly, users will continue deploying smart contracts as before the upgrade.

Moreover, Bedrock introduces a new fee structure that makes fees more predictable and efficient. Overly, developers expect transfer or smart contracts deployment fees to drop. Presently, L2fees data shows that simple transfers on Optimism cost $0.30. Meanwhile, swapping tokens will cost $0.45.

On the security angle, Bedrock introduces a 2-step withdrawal process and a more robust sequencer. With a better sequencer, developers hope user funds will be better protected. At the same time, there will be better usability with the introduction of the Optimism Portal, allowing for easy cross-domain messaging.

Despite all these changes, it remains to be seen whether OP, the native token of Optimism, will rise. As of writing on May 16, the token is down nearly 50% from February 2023 high. However, considering gains in Q1 2023 formation, the OP uptrend remains.

Still, traders need more signals before committing. In recent days, OP has been trending lower, breaking below the critical support level in early May. Whether OP bears will press on will be seen in the sessions ahead. Even so, whats clear is that OP prices have been stagnating, finding support at 1.64.

Related Reading: OP Plummets 7% As Optimism Postpones Hardfork

Ahead of the June 6 Bedrock upgrade, OP prices could recover, shaking off the bears of May, and align with the primary trend set in motion in Q1 2023.

Feature Image From Canva, Chart From TradingView

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Optimism Layer-2 Is Upgrading: Is This What Bulls Want? - NewsBTC

NFTproX is an innovative platform for buying and selling NFTs (Non-Fungible Tokens), which utilizes blockchain technology to provide investors with a new way to earn passive income. By combining NFT investing with cloud mining, NFTproX offers a unique investment opportunity for users looking to diversify their investment portfolio. In this comprehensive guide, well cover everything investors need to know about investing in NFT projects on NFTproX to maximize their return on investment.

NFTproX is a UK-based company that provides cloud mining and NFT investment services. Their unique investment model is based on smart contracts, ensuring transparency and security of all transactions. The combination of cloud mining and NFT investment aims to provide users with diversified investment opportunities and maximize investment returns.

Create an account: Users can quickly register and verify using the simple web interface provided by NFTproX. As a reward for new users, users will receive a $10 registration reward for investing in NFT projects and cloud mining contracts. In addition, NFTproX has an affiliate network where he can introduce partners and receive a commission of up to 5%.

NFT selection: After depositing funds into the account, investors can choose NFT projects for investment. The uniqueness, rarity, and potential growth potential of NFTs should be carefully considered before investing.

NFTproXs business model is simple: users make deposits like any bank and automatically receive dollars profits on the account every day.

NFTproX offers a variety of price packages options, such as $10, $100, $1500, and $6800 options, among others. Each gives a unique Return on Investment and has a particular contract period.

Due to the platforms daily payout of income, user may be sure that he will get paid every day. At the end of the contract period, user can immediately withdraw your balance or continue to invest. For every investment, NFTproX offers complete protection of the principal and profit.

Passive income: Investing in NFT projects on NFTproX offers users the opportunity to earn passive income by leasing out their NFTs on the platform.

Diversified Portfolio: Investing in NFT projects and cloud mining contracts allows users to diversify their investment portfolio and reduce their overall risk exposure.

High Growth Potential: Investing in NFT projects with high growth potential can provide a solid return on investment when later sold on NFTproX.

Ease of Management: NFTproXs user-friendly platform makes it easy for investors to manage their NFT investments and cloud mining contracts.

Cloud mining allows users to rent computing power from remote data centers to mine cryptocurrencies such as Bitcoin and Ethereum. By investing in cloud mining contracts, users can earn a portion of the profits without doing any mining themselves.

Choosing a Cloud Mining Provider: Users must choose a cloud mining provider carefully, making sure they are reputable and offer lucrative contracts.

Selecting an Investment Option: Users can then select the cloud mining investment option that best suits their investment goals and desired return on investment.

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Transfer your tokens to a cloud miner: After a user chooses an investment plan, they must transfer their staked tokens to a cloud miner to start the contract.

Manage your investment: After starting a cloud mining contract, users must regularly monitor their investment to ensure it is performing as expected.

Investors can obtain investment income through NFT investment and cloud mining contracts. The earning potential depends on various factors such as the rarity, uniqueness and growth potential of the NFT, as well as the hash rate and cryptocurrency mining difficulty of the cloud mining contract.

Cloud Mining Contracts: Cloud mining contracts are another source of investment income. Earning potential depends on factors such as the cloud mining contracts hash rate and cryptocurrency mining difficulty.

NFTproX offers cloud mining contracts with daily payouts, allowing investors to reinvest their earnings to maximize their investment returns.

NFTproX provides Novice experience package users can buy daily to earn profits. They can withdraw the entire balance once once have made $100.

Users can join NFTproXs affiliate program to earn lifetime referral rewards. Why is it a good idea to join an affiliate program on NFTproX? After registering for a website account, review all the perks on user account. Every user who refers new clients receives a lifetime 5% incentive from their NFTproX payments. Everything is transparent and secure.

NFTproX is a secure and trustworthy platform for NFT Cloud Mining and investment. NFTproX takes several measures to ensure the safety and security of its users, including Email authentication, SSL encryption, audits, and compliance with regulations.

On the platform, customer service is available round-the-clock. Expert professionals can always assist user and resolve any technical or financial problems. They can reach the company by email at info@nftprox.com.

Investing in NFT projects on NFTproX can be a lucrative way to earn passive income while diversifying ones investment portfolio. The combination of NFT investments and cloud mining provides users with a unique and efficient way to invest in the blockchain industry. To maximize their investment income, Investors should carefully select NFT projects and cloud mining providers, regularly monitor their investments, and stay abreast of market developments. While investment risks exist, the diverse investment opportunities on NFTproX offer enormous potential returns. So why not give it a try today on https://www.nftprox.com/?

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Cloud Mining and NFT Investments Earning Made Easy By NFTproX - Crypto News Flash

A Complete Guide: How to Mint NFT on Etherscan

Searching for a guide on how to use NFT on Etherscan? Look no further.

NFTs have gained immense popularity, representing one-of-a-kind digital assets on Ethereum. Minting an NFT involves creating a special token for artwork, music, or collectibles.

In this guide, we will walk you through the process of minting an NFT on Etherscan, one of the most popular block explorers on the Ethereum network.

Before we dive into the specifics of minting an NFT on Etherscan, its important to understand the basic process of creating and minting NFTs.

First, at a high level, minting an NFT involves three key components:

Smart contracts are self-executing contracts, with the terms of the agreement between buyer and seller being directly written into lines of code.

In the context of NFTs, a smart contract defines the rules and properties of your NFT, including its name, symbol, and other metadata. Once you have created your smart contract, you can then define the details of your NFT, such as its image, description, and other attributes. Finally, you can mint your unique token, which creates a record of ownership on the Ethereum blockchain.

Before you can begin minting an NFT on Etherscan, you must set up a Metamask wallet and connect to the Web3 network. Metamask is a popular Ethereum wallet that allows you to store and manage digital assets and interact with decentralized applications (dApps) on the Ethereum network.

To get started, visit the Metamask website. Then download the wallet for your preferred browser. Once you have installed the wallet, you can then connect to the Web3 network by clicking on the Connect to Web3 button in the wallet interface. This will allow you to interact with dApps on the Ethereum network and complete transactions using your Ether balance.

Once you have set up your Metamask wallet and connected to the Web3 network, you must choose an NFT marketplace to list your NFT for sale. One of the most popular marketplaces for NFTs is Opensea, which allows you to buy, sell, and discover unique digital assets on the Ethereum blockchain.

To get started with Opensea, visit the website and create an account. Once you have signed up, you can browse the marketplace to discover NFTs or create your own NFT project.

To create your own NFT project on Etherscan, you must first navigate to the Contracts tab on the Etherscan website. From here, you can click on the Write Contract button to create a new smart contract.

Once you have entered the required details for your smart contract, you can then define the properties of your NFT, such as its name, symbol, and other metadata. You can also upload an image or other digital asset to represent your NFT and define any other attributes or details you want to include.

Once you have created your smart contract and defined the details of your NFT, you can then mint your unique token on Etherscan. To do this, navigate to the Contract tab on the Etherscan website and find the address of your smart contract.

From here, you can click the Write Contract button and select the Mint function from the list of available options. You will then need to enter the required details for your NFT, such as the ID and quantity, before submitting the transaction.

In the details section of your NFT, you can add more information about your digital asset. This can include a description of the artwork, its story, or any other relevant details. You can also add links to your social media accounts, website, or other platforms where fans can follow you and your work.

Having a detailed description and information about your NFT can help attract potential buyers. Thus, making your digital asset stand out in a crowded marketplace.

One important aspect of minting an NFT on Etherscan is understanding and paying for gas fees. Gas fees are the fees paid to miners on the Ethereum network to process transactions. They vary depending on network congestion and other factors.

When you mint an NFT on Etherscan, you must pay a gas fee to complete the transaction. To do this, you must have a sufficient balance of ether in your Metamask wallet. To process your transaction efficiently, set the gas price and limit accordingly.

Before you deploy your smart contract and mint your NFT, its a good idea to test your contract to ensure that it works. Etherscan provides a testing environment where you can simulate transactions and interactions with your smart contract to identify any potential issues or bugs.

After testing and confirming your smart contract, deploy it to the Ethereum mainnet for NFT minting.

Once youve minted your NFT on Etherscan, take a moment to review your smart contract for any necessary adjustments. This includes verifying that your NFT has been minted correctly and that all of the details and properties are accurate.

Ensure the security of your NFT and smart contract by reviewing the code for any vulnerabilities.

Furthermore, following these steps, you can easily create and sell your unique digital assets on the Ethereum blockchain using Etherscan.

As the popularity of NFTs grows, we can expect to see new and innovative use cases for these digital assets. Artists, musicians, and collectors can showcase their work by minting NFTs on Etherscan.

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How to Mint NFT on Etherscan? - Watcher Guru

A recent report from The Influencers Club suggests that the creator economy was worth over $100 billion in 2022 and continues growing. Recent trends appear to back this up, with YouTube expanding to Shorts, TikToks launch of Pulse and Facebook pushing content with Reels.

The creator economy is expanding in other ways too, with the use of artificial intelligence tools like ChatGPT and DALL-E to generate content, the rise of live streaming platforms like Twitch and growing interest in podcasting.

However, creators face a number of challenges that will likely become more severe as the economy grows. One of the major problems is that creators often find themselves locked in centralized platforms such as Instagram and YouTube, held hostage by algorithms that determine the reach of their content. Meanwhile, the vast majority of creators struggle to generate much income from their work.

With the emergence of Web3 technologies like cryptocurrency and non-fungible tokens, creators have an opportunity to break free of their reliance on centralized platforms, gain full control of the content they create and establish direct relationships with their fans.

The creator economy owes its existence to the Web2 era. Web2 saw the rise of platforms like Facebook, TikTok and Instagram, the concepts of blog posts and podcasts, giving people a way to generate their own content. With Web3, creators now have a fairer ecosystem that allows them to become masters of their own destinies.

The advantage of Web3 is that it grants users ownership of their data. Creators will be able to treat their data as their own personal property and be paid for whatever content they create, and others consume. We have already seen NFTs used to record who owns a digital artwork, and user data can be tracked and traced in the same way.

Existing projects have already made this possible. A good example is the tokenized Web3 advertising platform Permission, which connects consumers with brands. With Permission, users can earn cryptocurrency as a reward for sharing their data and engaging with brands. A similar idea is Ocean Protocol, which is a marketplace where individuals can sell their data as an NFT. In addition, Zedoshis an app that pays users to watch advertisements.

In Web3, artists, musicians, video bloggers and other content creators wont need to rely on traditional platforms such as Facebook and Instagram, or try to attract brands to sponsor their content. Instead, theyll be able to distribute their content through decentralized, user-owned platforms.

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Web3 will see the rise of decentralized social media platforms such as Taki,where all of the platforms users have a stake in the network and can earn rewards for sharing, liking and commenting on content. Decentralized platforms will be democratic and inclusive, and allow anyone to monetize their work directly. Creators can therefore be more selective about which brands they choose to work with, leading to better quality advertising.

The Web3 creator economy will also enable closer relationships between influencers and their fans and new funding opportunities. For instance, Snapmuse.iois pushing the concept of NFTs that allow fans to partner with their favorite creators. They can acquire NFTs with a portion of the influencers ad revenue. The goal is to foster a bigger community and get broader engagement through the new partnerships.

In Web2, Amazon, Google and Apple emerged as the new middlemen, taking big cuts of each sale through their online stores. The same goes for Facebook and Instagram, which take most of the advertising revenues generated by creators content for themselves.

That can change with Web3, and indeed it already has. Their largest NFT marketplace is OpenSea, which takes a 0% transaction fee from each sale. Each transaction is transparent, creating a public record of the NFTs value and provenance.

Instead of posting a video on Facebook and losing the rights to that content the moment it has been uploaded, creators will be able to mint NFTs that establish that they are the owner of that video. Alternatively, creators would be able to sell those NFTs directly, transferring ownership to the buyer.

One forward-thinking project capitalizing on this is GenZeroes, the worlds first NFT-powered video and comic book series. Its funded by the sale of NFTs to fans, who gain exclusive access to new episodes and the chance to have a say in what will happen in the second season.

Smart contracts ensure timely payments as they eliminate the middleman, meaning creators will receive their revenue share the moment it has been paid. As Web2 platforms begin to disappear, smart contracts and NFTs will emerge as the new standard, with a record of ownership for every piece of content posted onto immutable public blockchains.

With NFTs, artists will be able to keep track of the value of their older creations and continue to monetize them through royalties. Under the old system, if an artist sold a painting for $10,000 and it was later sold again for $5 million, the artist would not receive anything more, with the dealer pocketing the difference. That wont happen with NFTs, as the artists can create a smart contract that ensures they will receive a percentage of any future sale.

Most will agree that content creators deserve full recognition and value for their work, and that is precisely what Web3 will provide. One of the greatest benefits of technology is democratization, putting advanced capabilities into the hands of consumers.

Web3 is the next evolution of this paradigm, and it will be a game changer for creators, giving them unprecedented control over their content. No longer will they need to rely on platforms like YouTube to monetize their work. Theyll have direct ownership of their work along with direct access to their fans.

Tomer Warschauer Nuni is CBDO @Kryptomon, a serial entrepreneur, advisor, and investor focused on the innovative blockchain & Web3 industry.

This article was published through Cointelegraph Innovation Circle, a vetted organization of senior executives and experts in the blockchain technology industry who are building the future through the power of connections, collaboration and thought leadership. Opinions expressed do not necessarily reflect those of Cointelegraph.

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What's next for NFTs and Web3 in the age of the creator economy? - Cointelegraph

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For decades, artificial intelligence (AI) has captivated humanity as an enigmatic and elusive entity, often depicted in sci-fi films. Will it emerge as a benevolent angel, devotedly serving mankind, or a malevolent demon, poised to seize control and annihilate humanity?

Previous sci-fi movies featuring AI often portray evil-minded enemies set on destroying humanity, such as The Terminator, The Matrix and Blade Runner. Experts, including late British theoretical physicist Stephen Hawking and Tesla CEO Elon Musk, have expressed concern about the potential risks of AI, with Hawking warning that it could lead to the end of the human race. These tech gurus understand the limitations of human intelligence when compared to rapidly evolving technologies like supercomputers, Big Data and cloud computing, and fear that AI will soon become too powerful to control.

In March 2016, AlphaGo, a computer program developed by Google DeepMind, decisively beat Lee Sedol, a 9-dan Korean professional Go player, with a score of 4-1. In May 2017, AlphaGo crushed Kejie 3-0, China's then-top Go player. This historic event marked the first time a machine had defeated a human at Go, widely considered one of the most complex and challenging games in the world. The victory shattered skepticism about AI's capabilities and instilled a sense of awe and fear in many. This sentiment was further reinforced when "Master," the updated version of AlphaGo, achieved an unprecedented 60-game winning streak, beating dozens of top-notch players from China, South Korea and Japan, driving human players to despair.

These victories sparked widespread interest and debate about the potential of AI and its impact on society. Some saw it as a triumph of human ingenuity and technological progress, while others expressed concern about the implications for employment, privacy and ethics. Overall, AlphaGos dominance in Go signaled a turning point in the history of AI and became a reminder of the power and potential of this rapidly evolving field.

If AlphaGo was an AI prodigy that impressed humans with its exceptional abilities, then Chat GPT, which made its debut earlier this year, along with its more powerful successor GPT, has left humans both awestruck with admiration and fearful of its potential negative impact.

GPT, or Generative Pre-trained Transformer, a language model AI, has the ability to generate human-like responses to text prompts, making it seem like you are having a conversation with a human. GPT-3, the latest version of the model, has 175 billion parameters, making it the largest language model AI to date. Some have claimed that it has passed the Turing test.

Indisputably, AI has the potential to revolutionize many industries, from healthcare and education to finance and manufacturing to transportation, by providing more accurate diagnoses, reducing accidents and analyzing large amounts of data. It is anticipated that AIs rapid development will bring immeasurable benefits to humans.

Yet, history has shown us that major technological advancements can be a double-edged sword, capable of bringing both benefits and drawbacks. For instance, the discovery of nuclear energy has led to the creation of nuclear weapons, which have caused immense destruction and loss of life. Similarly, the widespread use of social media has revolutionized communication, but it has also led to the spread of misinformation and cyberbullying.

Despite their impressive performance, the latest versions of GPT and its Chinese counterparts, such as Baidu's Wenxin Yiyan, are not entirely reliable or trustworthy due to fatal bugs. Despite my attempts to request specific metrical poems by famous ancient Chinese poets, these seemingly omniscient chatbots would display fake works they had cobbled together from their database instead of authentic ones. Even when I corrected them, they would continue to provide incorrect answers without acknowledging their ignorance. Until this bug is resolved, these chatbots cannot be considered a reliable tool.

Furthermore, AI has advanced in image and sound generation through deep learning and neural networks, including the use of GANs for realistic images and videos and text-to-speech algorithms for human-like speech. However, without strict monitoring, these advancements could be abused for criminal purposes, such as deepfake technology for creating convincing videos of people saying or doing things they never did, leading to the spread of false information or defamation.

It has been discovered that AI is being used for criminal purposes. On April 25th, the internet security police in Pingliang City, Gansu Province, uncovered an article claiming that nine people had died in a train collision that morning. Further investigation revealed that the news was entirely false. The perpetrator, a man named Hong, had utilized ChatGPT and other AI products to generate a large volume of fake news and profit illegally. Hong's use of AI tools allowed him to quickly search for and edit previous popular news stories, making them appear authentic and facilitating the spread of false information. In this case, AI played a significant role in the commission of the crime.

Due to the potential risks that AI poses to human society, many institutions worldwide have imposed bans or restrictions on GPT usage, citing security risks and plagiarism concerns. Some countries have also requested that GPT meet specific requirements, such as the European Union's proposed regulations that mandate AI systems to be transparent, explainable and subject to human oversight.

China has always prioritized ensuring the safety, reliability and controllability of AI to better empower global sustainable development. In its January 2023 Position Paper on Strengthening Ethical Governance of Artificial Intelligence, China actively advocates for the concepts of "people-oriented" and "AI for good".

In conclusion, while AI is undoubtedly critical to technological and social advancement, it must be tamed to serve humankind as a law-abiding and people-oriented assistant, rather than a deceitful and rebellious troublemaker. Ethics must take precedence, and legislation should establish regulations and accountability mechanisms for AI. An international consensus and concerted action are necessary to prevent AI from endangering human society.

The author is a Shenzhen-based English tutor.

The opinions expressed here are those of the writer and do not necessarily represent the views of China Daily and China Daily website.

If you have a specific expertise, or would like to share your thought about our stories, then send us your writings at opinion@chinadaily.com.cn, and comment@chinadaily.com.cn.

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Taming AI to the benefit of humans - Opinion - Chinadaily.com.cn - China Daily